Trend analysis (Fig. 1).
The euro-dollar pair may move up from the level of 1.0786 (close of yesterday's daily candle) with the target at 1.0819, the 14.6% retracement level (red dotted line). After testing this level, the price may continue to move up with the target at 1.0858, the 23.6% retracement level (red dotted line). From this level, the upward movement may continue.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Fibonacci levels – up;
- Volumes – up;
- Candlestick analysis – up;
- Trend analysis – up;
- Bollinger bands – down;
- Weekly chart – up.
General conclusion:
Today, the price may move up from the level of 1.0786 (close of yesterday's daily candle) with the target at 1.0819, the 14.6% retracement level (red dotted line). After testing this level, the price may continue to move up with the target at 1.0858, the 23.6% retracement level (red dotted line). From this level, the upward movement may continue.
Unlikely scenario: from the level of 1.0786 (close of yesterday's daily candle), the price may continue to move up with the target at 1.0819, the 14.6% retracement level (red dotted line). After testing this level, the price may move down to the support level at 1.0743 (thick red line). After testing this level, the price may start moving up with the target at 1.0819, the 14.6% retracement level (red dotted line).
